Looking to get my feet wet in real estate.
Looking to get my feet wet in real estate investing in Atl and Charleston SC.
Can anyone recommend a real estate venture with minimum risk for a newbie, Wholesaling, Flipping, etc?
Thank you
Steven
@Steve Riebman, minimum risk investment strategy, house hacking.
How do you feel about new construction? Every part of the home has a shelf life. However it all depends on your situation and what look like as far as value. It must make financial sense.
I would suggest a light rehab (flip) on an inexpensive home to the average in the market. Wholesaling can be costly, if you want to do it right, as the marketing costs can be expensive. You can drive for deals/dorr knock which is less costly, but takes a lot of time and some people aren't comfortable with that. It all depends on your starting capital and time you can allot to investing. Feel free to reach out if you need any advice.
What is your longterm goal and how much time can you commit to it? Wholesaling can be done with a low barrier to entry and relatively low risk of capital. You can also buy properties creatively with no money down (I do this). Different levels of risk to everything and different time commitments to really gain traction.
I'm in Atlanta as well so I'm happy to chat
Hello Steve,
Most conservative option I would say is to house hack. House Hack is when you purchase a single family home or 2-4 units and live there as your primary. The great thing about this strategy is that it allows you to put low money down 3.5% -5% down. You can rent out rooms if your living in a single family home. This will help you pay down your mortgage and if need to you can rehab the place while living there. Once you have added enough value in order to get max market rent then you move out and rinse and repeat. The same concept is used if you buy 2-4 units. This is the most conservative strategy and best way to learn hands on about rehabbing, managing tenants how to add value to your properties etc.. with low money down as well.